economy
‘Nightmare scenario’ oil price surge amid Iran war
As war with Iran intensifies and traffic slows in the Strait of Hormuz, global energy expert Daniel Yergin warns of a “nightmare scenario” for oil prices. CNN’s Erin Burnett reports.
TL;DR
- War with Iran is intensifying, causing traffic slowdowns in the Strait of Hormuz and a surge in global oil prices.
- A residential building in Tehran was hit, with rescuers attempting to save trapped individuals.
- The Trump administration faces a dilemma between economic recession and potential naval catastrophe.
- Hezbollah's rockets are being met by Israeli air defenses along the Israel-Lebanon border.
- A fighter jet reportedly fired a missile at an Iranian-style drone over Dubai.
- Israeli shelling in southern Lebanon has resulted in the death of a priest.
- The social media trend 'Chinamaxxing' is discussed as China gains global cultural capital.
- A segment checks in with the internet-famous monkey, Punch.